The Accountant December 2006 www.WorldAccountingIntelligence.com TA INDEX: 2006 This index lists TA story headlines during 2006, showing month of issue followed by page number. Accountancy Investigation and Discipline Board More details on new ACCA qualification ...July, 8 Canadian CAs boost corporate UK AIDB to investigate ICAI June, 9 ACCA and CICPA link up to train university performance UK AIDB to investigate RSM Robson Rhodes over lecturers CICPA updates its website October, 11 ACCA HKICPA move forward with recognition CICA aims to change perceptions... September, 2 agreement August, 1 GAA passport to give worldwide support to Accounting Standards Board Institutes insist on audit quality August, 6-7 members September, 15 A common standard January, 10-11 ACCA issues student exam results August, 8 Canadian institute chief joins IFAC Consistency is the key in effort to end US Profession needs to assist SMEs .. September, 12 December, 11 reconciliation requirement GAA passport to give worldwide support to IFRS for UK companies on the table May, 9 members September, 15 Canadian Public Accountability Board AASB to discuss FASB and IASB paper.. August, 9 Forensic accountants face greater CPAB defends itself against call to revise its responsibility October, 9 governance structure February, 1 Accounting Standards Board of Japan The profession reflects November, 4-5 CGA-Canada’s independence recognised by Japan accelerates its efforts to align with Cut red tape for small businesses.... November, 7 international standards March, 5 Business leaders offered new Herz and Saito committed to international qualification November, 8 CGA Canada standards ACCA and CGA-Canada forge closer A new reality for Canada March, 17-18 IASB and ASBJ continue talks December, 6 Action needed for SME standards April, 3 Meeting of US and Japanese standards CGA-Canada launches initiative to support November, 7 Auditor Oversight Commission federal government German bodies focus on levels of control . May, 1 CGA-Canada accuses oversight board of ignoring American Institute of Certified Public Following the right agenda public interest Accountants AICPA opens up IT designation January, 12 Auditing Practices Board Change for AICPA peer review February, 4 UK auditor report standard in limbo...January, 9 CGA-Canada member joins country’s standards US firm seeks action on audit best Fresh guidance for public sector September, 3 practice February, 8 February, 8 Poirier takes chair of CGA-Canada October, 9 More women flying high in firms .... February, 14 June, 3 CGA-Canada looks to Mexico December, 3 US standard setters look to private Duo joins APB ACCA and CGA-Canada forge closer companies UK APB issues governance guidance for ties December, 6 AICPA to fund accounting research auditors September, 9 AICPA merges reporting projects June, 14 UK APB issues bank guidance October, 8 Chartered Institute of Management Accountants Small companies receive helping hand ....July, 5 UK regulator releases new ethical CIMA adopts ‘ground-breaking’ Awards for government CPAs August, 3 standard November, 14 ethics January, 9 Project to examine audit perceptions .. August, 8 UK bodies regulating auditors Professor warns against accounting Changes mean XBRL takes another step forward effectively December, 7 February, 8 in the US September, 3 Strike a pose April, 17 AICPA helps professionalt o Australian Accounting Standards Board CIMA provides ethics support to September, 12 Heritage assets gains attention of Australian members AICPA drafts valuation statement October, 8 standards setter Coghlan confident of CIMA’s future New AICPA chiefs calls for greater diversity in his IAS 1 ED garners lukewarm CIMA launches China office August, 3 inaugural speech October, 11 response July, 14-15 Institutes insist on audit quality August, 6-7 AICPA awards management accountant AASB to discuss FASB and IASB paper.. August, 9 French school to offer CIMA course .... October, 8 grants October, 16 Australian standard setter lacks appropriate CIMA say accountants need greater AICPA’s quality appointment November, 8 public sector focus November, 7 recognition October, 11 AICPA offers membership to accounting AASB proposes removal of Australian IFRS PwC UK and CIMA unite to improve corporate educators November, 14 disparity December, 11 reporting November, 1 UK companies passed to praise from the Association of Chartered Certified Accountants Autorité des Marchés Financiers profession November, 7 New ACCA revamp for ethics January, 3 French governance disclosure showing signs of UK and Canadian bodies unite November, 8 ACCA poaches ICAEW partnerships improvement January, 12 Institutes stay positive November, 15-19 expert February, 9 French profession reconnects February, 17 Association proves popular with Canada rebuffs 404-stlye reporting March, 1 Chartered Institute of Public Finance and students February, 16 Accountancy Auditor general receives ACCA award.... March, 3 Canadian Institute of Chartered Accountants CIPFA expands online learning February, 4 ACCA offers members new tax A new reality for Canada March, 17 A new reality for Canada March, 17 qualification March, 8 New leader for CICA as ICAO undergoes executive Pensions reform firmly on the agenda at Yeats elected as president of ACCA May, 8 reshuffle upcoming CIPFA event Strictly no copying permitted. For information on additional copies or syndicated online access to this newsletter, please contact Client Relations on +44 (0)20 7563 5615 or [email protected] The Accountant December 2006 www.WorldAccountingIntelligence.com TA INDEX: 2006 This index lists TA story headlines during 2006, showing month of issue followed by page number. Accountancy Investigation and Discipline Board More details on new ACCA qualification ...July, 8 Canadian CAs boost corporate UK AIDB to investigate ICAI June, 9 ACCA and CICPA link up to train university performance UK AIDB to investigate RSM Robson Rhodes over lecturers CICPA updates its website October, 11 ACCA HKICPA move forward with recognition CICA aims to change perceptions... September, 2 agreement August, 1 GAA passport to give worldwide support to Accounting Standards Board Institutes insist on audit quality August, 6-7 members September, 15 A common standard January, 10-11 ACCA issues student exam results August, 8 Canadian institute chief joins IFAC Consistency is the key in effort to end US Profession needs to assist SMEs .. September, 12 December, 11 reconciliation requirement GAA passport to give worldwide support to IFRS for UK companies on the table May, 9 members September, 15 Canadian Public Accountability Board AASB to discuss FASB and IASB paper.. August, 9 Forensic accountants face greater CPAB defends itself against call to revise its responsibility October, 9 governance structure February, 1 Accounting Standards Board of Japan The profession reflects November, 4-5 CGA-Canada’s independence recognised by Japan accelerates its efforts to align with Cut red tape for small businesses.... November, 7 international standards March, 5 Business leaders offered new Herz and Saito committed to international qualification November, 8 CGA Canada standards ACCA and CGA-Canada forge closer A new reality for Canada March, 17-18 IASB and ASBJ continue talks December, 6 Action needed for SME standards April, 3 Meeting of US and Japanese standards CGA-Canada launches initiative to support November, 7 Auditor Oversight Commission federal government German bodies focus on levels of control . May, 1 CGA-Canada accuses oversight board of ignoring American Institute of Certified Public Following the right agenda public interest Accountants AICPA opens up IT designation January, 12 Auditing Practices Board Change for AICPA peer review February, 4 UK auditor report standard in limbo...January, 9 CGA-Canada member joins country’s standards US firm seeks action on audit best Fresh guidance for public sector September, 3 practice February, 8 February, 8 Poirier takes chair of CGA-Canada October, 9 More women flying high in firms .... February, 14 June, 3 CGA-Canada looks to Mexico December, 3 US standard setters look to private Duo joins APB ACCA and CGA-Canada forge closer companies UK APB issues governance guidance for ties December, 6 AICPA to fund accounting research auditors September, 9 AICPA merges reporting projects June, 14 UK APB issues bank guidance October, 8 Chartered Institute of Management Accountants Small companies receive helping hand ....July, 5 UK regulator releases new ethical CIMA adopts ‘ground-breaking’ Awards for government CPAs August, 3 standard November, 14 ethics January, 9 Project to examine audit perceptions .. August, 8 UK bodies regulating auditors Professor warns against accounting Changes mean XBRL takes another step forward effectively December, 7 February, 8 in the US September, 3 Strike a pose April, 17 AICPA helps professionalt o Australian Accounting Standards Board CIMA provides ethics support to September, 12 Heritage assets gains attention of Australian members AICPA drafts valuation statement October, 8 standards setter Coghlan confident of CIMA’s future New AICPA chiefs calls for greater diversity in his IAS 1 ED garners lukewarm CIMA launches China office August, 3 inaugural speech October, 11 response July, 14-15 Institutes insist on audit quality August, 6-7 AICPA awards management accountant AASB to discuss FASB and IASB paper.. August, 9 French school to offer CIMA course .... October, 8 grants October, 16 Australian standard setter lacks appropriate CIMA say accountants need greater AICPA’s quality appointment November, 8 public sector focus November, 7 recognition October, 11 AICPA offers membership to accounting AASB proposes removal of Australian IFRS PwC UK and CIMA unite to improve corporate educators November, 14 disparity December, 11 reporting November, 1 UK companies passed to praise from the Association of Chartered Certified Accountants Autorité des Marchés Financiers profession November, 7 New ACCA revamp for ethics January, 3 French governance disclosure showing signs of UK and Canadian bodies unite November, 8 ACCA poaches ICAEW partnerships improvement January, 12 Institutes stay positive November, 15-19 expert February, 9 French profession reconnects February, 17 Association proves popular with Canada rebuffs 404-stlye reporting March, 1 Chartered Institute of Public Finance and students February, 16 Accountancy Auditor general receives ACCA award.... March, 3 Canadian Institute of Chartered Accountants CIPFA expands online learning February, 4 ACCA offers members new tax A new reality for Canada March, 17 A new reality for Canada March, 17 qualification March, 8 New leader for CICA as ICAO undergoes executive Pensions reform firmly on the agenda at Yeats elected as president of ACCA May, 8 reshuffle upcoming CIPFA event Strictly no copying permitted. For information on additional copies or syndicated online access to this newsletter, please contact Client Relations on +44 (0)20 7563 5615 or [email protected] December 2006 The Accountant www. WorldAccountingIntelligence.com TA INDEX: 2006 CIPFA plans for the future Potdevin assumes FEE presidency ... December, 2 Networks call for system overhaul but regulators ITA professional moves to CIPFA raise doubts November, 3 Making an impression Financial Accounting Standards Board Added role for CIPFA centre FASB continues to simplify German Chamber of Public Accountants CIPFA member severely reprimanded standards February, 3 German bodies focus on levels on ICAEW launches public sector group in US FSAB strives to improve financial control conjunction with CIPFA reporting February, 9 Following the right agenda A clear logic for IFRS February, 14 Chinese Institute of Certified Public FASB simplifies financial assets Hong Kong Institute of Certified Public Accountants standard March, 8 Accountants China aims for world class US financial reporting must do better ....April, 4 China gets training boost from profession Herz and Saito committed to international January, 1 ICAEW to train best accountants in standards In pole position January, 13 Renowned academic joins FASB Fresh approach needed for small businesses and ACCA and CICPA link up to train university US standard setters look to private lecturers companies ACCA HKICPA move forward with recognition Chinese interns work in the UK ... September, 14 IASB promises no new standards until January agreement August, 1 CPA Australia moves farther into China with ICAS strikes agreement for mainland China new Shanghai office established .... October, 3 Lease accounting under review graduates September, 14 Profession celebrated at world AASB to discuss FASB and IASB paper.. August, 9 GAA passport to give worldwide support to congress November, 1-2 Trott to leave FASB in 2007 August, 3 members September, 15 Chinese and Hong King institutes strengthen TASB and ASBJ continue talks September, 1 Chinese and Hong King institutes strengthen relationships with agreements .. November, 12 FASB standards provides new guidance on fair relationships with agreements... November, 12 September, 14 Leadership change at HKCIPA as institute elects CMA Canada Pros and cons of IFRS new president and council December, 6 Canada rebuffs 404-style reporting March, 1 implementation September, 16 UK and Canadian bodies unite November, 8 FASB release not-for-profit Independent Regulatory Board for Auditors proposals October, 9 Liability battle looms in South CPA Australia Post-retirement get FASB Africa December, 1 Devili s in the detail March, 7 treatment October, 16 Institutes step up grassroots Fraud legislation could too much for small Meeting US and Japanese standards campaigns December, 12-15 business down under March, 16 November, 7 CPA Australia kept on its toes by rival institutes Convergence still a talking point .. November, 13 Institute of Certified Public Accountants of in Asia-Pacific PwC UK and CIMA unite to improve corporate Singapore CPA Australia forges links in Cambodia and reporting November, 1 A pillar of the economy October, 12-13 Vietnam Derivative reporting under FASB Music to CPA Australia’s ears attention December, 3 Institute of Chartered Accountants in Australia Pulling together June, 16-19 Committee formed to aid private Exciting prospects for ICAA January, 2 CPAs leaving Australia in ever increasing companies December 7 KPMG partner to lead ICAA February, 16 numbers September, 8 Fraud legislation could too much for small Better audit quality down under.. September, 13 Financial Reporting Council business down under March, 16 CPA Australia proposes reform .... September, 14 UK oversight board to take in actuaries ..April, 9 AIFRS causes application headaches for CPA Australia moves farther into China with new Audit concentrate needs diluting in businesses Shanghai office established October, 3 Pulling together A pillar of the economy October, 12-13 Duo joins UK APB IAS 1 ED garners lukewarm response.July, 14-15 Australian standard setter lacks appropriate Combined code update ICAA sheds light on extended reporting for public sector focus November, 7 UK FRC plots its future business August, 2 Moving forward at home and away.. November, 9 Institutes insist on audit quality August, 6-7 Accountants to be consulted on AML CPA Australia links with Austrade ... December, 7 UK FRC announces members of audit choice efforts September, 8 October, 9 Profession awaits report on institute Fédération des Experts Comptables Européens Australia look sot deepen regulatory process September, 12 Consistency is key in effort to end US relationships October, 10 Young accountants show loyalty: ICAA reconciliation requirement FRC highlights major developments . October, 15 September, 15 Eighth directive approved by EU The profession reflects November, 4-5 Changes to audit rotation requirements FEE examines comfort letters UK working group starts up November, 14 flagged October, 16 Europe speaks on internal controls Record number of students seek work FEE urges Europe to adopt international Financial Services Authority experience October, 9 standards September, 9 A model of consistency February, 12 US extends agreement with ICAA.... December, 3 Accrual accounting given platform in UK FSA chooses a mid-tier auditor June, 8 September, 9 US and UK regulators get down to the business Institute of Chartered Accountants in England Olson outlines need for co-operation as McCreevy of co-operation and Wales stresses importance of auditor Institutes insist on audit quality ICAEW member under investigation June, 4 liability October, 10 Good time to be an accountanti n UK July, 8 Strictly no copying permitted. For information on additional copies or syndicated online access to this newsletter, please contact Client Relations on +44 (0)20 7563 5615 or [email protected] The Accountant December 2006 www.WorldAccountingIntelligence.com TA INDEX: 2006 ICAEW wants in on UK legal profession .... July, 9 ACCA membership numbers in the IASB and ASBJ continue talks September, 1 IAS 1 ED garners lukewarm ascendancy UK ASB makes two appointments... September, 2 response July, 14-15 Hudson says farewell to Scottish Mackintosh warns of IASB funding crisis at UK Gaining an edge August, 17-19 institute conference September, 12 GAA passport to give worldwide support to New finance director for ICAS Pros and cons of IFRS members September, 15 ICAS appoints new CEO to replace implementation September, 16 Incoming ICAEW chief sees greater international Hudson FRC highlights major role for institute October, 1 Profession can be more socially aware... July, 12 developments October, 15 Forensic accountants face greater Legal recognition a step closer in PwC UK and CIMA unite to improve corporate responsibility October, 9 August, 4 reporting November, 1 ICAEW launches public sector group in Redressing the balance August, 5 IASB appoints full-time member..... November, 2 conjunction with CIPFA October, 11 Institutes insist on audit quality August, 6-7 Meeting of US and Japanese standards Institutes stay positive November, 15-19 ICAS adds director from CIPFA August, 8 November, 7 ICAEW ushers in new leadership ICAS teams up with UK corporate finance Convergence still a talking point .. November, 13 December, 7 September, 3 ICAS warns against only auditor International Auditing and Assurance Standards Institute of Chartered Accountants of India criticism September, 8 Board Indian institute elects new leader.... February, 8 Principles vs rules: the debate Tweedie sets sights on some unfinished business A global force in accounting continues September, 14 in second term January, 1 ICAI shortens qualification time ICAS welcomes UK liability reform .. December, 7 A common standard January, 10-11 Institutes stress need for tailored In pole position January, 13 standards Institute of Management Accountants A higher level of sustainability February, 4 Price of audit on the rise in India August, 2 Professor warns against accounting IAASB issues group audit ED March, 3 Firms falter in hiring new ICAI members as February, 8 IAASB group to hold open meetings..... March, 4 Indian institute examines IFRS Strike a pose April, 16, 17 Action needed for SME standards April, 3 convergence October, 3 Section 404 set for inspection Europe speaks on internal controls... May, 15-17 Time for a role reversal June, 13 IAASB appoints two deputy directors Institute of Chartered Accountants in Ireland Small companies receive big helping Project to examine audit perceptions .. August, 8 ICAI welcome charity review January, 12 Commentators welcome G3 recognition of Layers of information January, 14 CIMA to help develop NZ sustainability assurance October, 7 ICAI urges higher audit threshold March, 8 qualification September, 8 Draft standards issued by IAASB .... November, 8 ICAI members give approval to changes in IMA offers help on assessment regulatory structure guidance September, 9 International Accounting Standards Committee Victory for Irish institute IMA stresses need for Sarbanes-Oxley IASC foundation trustee retires January, 3 Disciplinary board gains approval overhaul November, 12 IFRS briefing published in German ....January, 9 UK AIDB to investigate ICAI members IASC produces handbook to promote IASB Legal recognition a step closer in International Accounting Standards Board operations April, 8 Ireland August, 4 UN could oversee IASB, says Berés... February, 2 IASC foundation advertises for Former chief regulator joins new ICAI board as FASB continues to simplify chairman chairman September, 3 standards February, 3 International groups launch UK APB issues governance guidance for China aims for world class website October, 15 auditors September, 9 profession February, 7 IASB appoints full-time members ... November, 2 ICAI extends IFRS diploma to A clear logic for IFRS February, 14 Switzerland, Singapore to host IFRS Belfast September, 12 Consistency is the key in effort to end US conferences November, 8 Irish institutes make education reconciliation requirement March, 1 changes October, 1 UK finance directors lobby US sec March, 3 International Federation of Accountants ICAI to offer executive leadership IASB and FASB agree route for global accounting IFAC issues draft on conduct codes .. February, 8 programme October, 11 standards Liability reforms may ease staffing Irish accountant expelled October, 14 Japan accelerates its efforts to align with February, 1 IFAC bodies offer database for accountants in international standards March, 5 A higher level of sustainability February, 4 business October, 15 Action needed for SME standards April, 3 Action needed for SME standards April, 3 Irish institutes lay groundwork ... October, 17-19 IASC produces handbook to promote IASB IFAC releases auditing handbook ICAI welcomes fast-tracking of new audit operations IAASB appoints two deputy directors regime November, 8 Herz and Saito committed to international IFAC lists highlights in annual reporting .. May, 9 New ICAI exam passed by two thirds of standards Europe speaks on internal controls candidates December, 3 Short-term convergence project begins in SAICA develops IFAC ethics code McCreevy honoured by Irish earnest for IASB IFAC extends chief executive's contract ..June, 8 institute December, 11 Revamp of financial instruments Thomakadis says all hands needed for IASB promises no new standards until January development of ‘world standards’ June, 15 Institute of Chartered Accountants of Scotland IAESB releases competence guidelines for ICAS member joins IAASB January, 3 Lease accounting under review auditors Caution urged on audit standard IAS 1 ED garners lukewarm response.July, 14-15 AASB to discuss FASB and IASB paper.. August, 9 Strictly no copying permitted. For information on additional copies or syndicated online access to this newsletter, please contact Client Relations on +44 (0)20 7563 5615 or [email protected] December 2006 The Accountant www.WorldAccountingIntelligence.com TA INDEX: 2006 Network definitions clarified August, 10 Compliance costs unlikely to fall February, 8 UK finance directors lobby US SEC Organisations veer away from prescriptive Round table for PCAOB and SEC February, 4 Ex-Enron accountant settles US SEC internal controls August, 15 New deputy chief auditors for PCAOB.... March, 9 charges Information technology guidance for US Big Four take heed of PCAOB US enforcement activities slammed accountants August, 15 criticism March, 16 Executive director says farewell to US Pre-qualification ethics education US financial reporting must do better ....April, 4 March, 9 needed August, 15 Auditor ethics and independence rules Consistency is the key in effort to end US IFAC pursued goals with senior approved by US SEC reconciliation requirement March, 1 appointments September, 8 PCAOB takes disciplinary action against New generation of US and UK regulatory IPSASB opens office in Canada September, 9 April, 9 co-operation March, 2 Commentators welcome G3 recognition of Former E&Y partner to lead US watchdog until Companies start to feel less of a pinch....April, 5 sustainability assurance October, 7 June, 3 Auditor ethics and independence rules Africa focus group established to advance the SEC to update management guidance July, 5 approved by SEC April, 8 profession October, 15 Oversight board is on the alert August, 8 PKF UK settles AermiSoft charges with regulator IFAC bodies offer database for accountants in Lucy at the helm at international forum of April, 9 business October, 15 business regulators Setpember,1 Sarbanes-Oxley lite seems ready to go.. April, 13 Profession celebrated at World US SEC gets involved in PCAOB legal US SEC welcomes Enron convictions Congress November, 1-2 challenge September, 8 Attitude and application The profession reflects November, 4-5 Cox and Olson back Sarbanes- Korea and the US pledge to work IFAC issues draft code of conduct September, 11 together guidance November, 14 PCAOB announces new research deputy US SEC stalwart announces departure director September, 15 Section 404 set for inspection Institut der Wirtschaftspriifer Australia looks to deepen regulatory US and UK regulators get down to business of Following the right agenda relationships October, 10 co-operation June, 14 PCAOB issues fair value guidance for stock Former E&Y US partner takes chief accountant Japanese Institute of Certified Public options October, 11 role at SEC Accountants US watchdog tackles audit US SEC names deputy chief A service to society January, 17-19 standards October, 14 accountant PCAOB to lose chief administrative US SEC gets involved in PCAOB legal Koninklijk Nederlands Instituut van officer October, 16 challenge September, 8 Registeraccountants PACOB announces Standing Advisory Group IMA offers help on assessment Dutch profession still waiting for professional members October, 16 guidance September, 9 oversight Olson ‘encouraged’ by growth of mid-tier and US SEC looks at quantifying Rebuilding professional standards....July, 17-19 benefits of Sarbanes-Oxley November, 3 misstatements September, 9 Sarbanes-Oxley improvement efforts in full Cox and Olson back Sarbanes- Malaysian Institute of Certified Public December, 1 September, 11 Accountants Some firms unhappy at PCAOB inspection September, 15 Institute’s push for recognition .. December, 8-9 reports December, 4 October, 8 National Institute of Accountants South African Institute of Chartered UK Professional Oversight Body Pulling together June, 16-19 Accountants UK professional bodies regulating auditors SACA adopts IFAC ethics code June, 3 effectively December, 7 Nederlandse Orde van Accountants - Liability battle looms in South Administratieconsulenten Africa December, 1 Wirtschaftspriiferkammer Rebuilding professional standards....July, 17-19 Institutes step up grassroots Following the right agenda May, 17-19 campaigns December, 12-15 Netherlands Authority for the Financial Markets XBRL International Dutch profession still waiting for professional South African Institute of Professional Pressing the right buttons February, 10-14 oversight Accountants Another step forward for XBRL in UK.... March, 9 Institutes step up grassroots US financial reporting must do New Zealand Institute of Chartered Accountants campaigns December, 12-15 CMA to develop NZ qualification .... September, 8 US SEC pilot programme Ordre des Experts-Comptables Securities and Exchange Commission Rebuilding professional standards....July, 17-19 French profession reconnects February, 17 A lack of credibility January, 6 XBRL-US chairman stays in the US SEC corporate finance director position August, 8 Professional Oversight Board retires January, 9 Changes mean XBRL takes another step forward SMEs need to brush up reporting March, 3 US accountant settles insider trading in the US September, 3 UK oversight board to take in actuaries ..April, 9 January, 9 Executive role created at XBRL Compliance costs unlikely to fall February, 8 International November, 8 Public Company Accounting Oversight Board US FSAB strives to improve financial Cox: XBRL will improve audit Ray takes chief auditor position January, 4 reporting February, 9 December, 7 US firm seeks action on audit best Pressing the right buttons February11, 12 Institutes step up grassroots practice February, 8 Round table for PCAOB and SEC February, 4 campaigns December, 12-15 Strictly no copying permitted. 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